News 18:00

BULLETIN 16 April 6 pm

Good afternoon. I am……..

In this bulletin:

# The rising oil prices are deeply intertwined with SA’s inflationary outlook
# Kwazulu-Natal will have the highest number of voting stations
# And rugby: JD Schickerling rejoins the Stormers 

# Economists have warned that rising oil prices are deeply intertwined with South Africa’s inflationary outlook, posing significant challenges to the country’s economic stability. With the Reserve Bank’s recent assurances notwithstanding, Matrix Fund Managers’ Kim Silberman highlights the persistent impact of escalating oil costs. These rising prices not only directly affect fuel expenses but also ripple through various sectors, increasing transportation and production costs. This puts upward pressure on consumer prices, exacerbating inflationary pressures and constraining the central bank’s ability to stimulate economic growth through interest rate adjustments.

# The Electoral Commission says KwaZulu-Natal will host the highest number of voting stations, totalling four-thousand-974, among the over 23-thousand stations for the upcoming elections. The Eastern Cape and Limpopo will accommodate four-thousand-868 and three-thousand-216 stations, respectively. Special vote applications, aimed at aiding voters unable to attend polling stations on election day, remain open until 3 May. Chief electoral official Sy Mamabolo reminded travellers to notify the commission of their intended voting location by 22 April:

Meanwhile, the commission has cautioned voters against marking their ballot papers multiple times, stressing that such ballots will be invalid. Voters are advised to carefully review and mark each of the three provided ballot papers before casting their votes. Production of the universal ballot template, catering to diverse needs including the visually impaired and those with motor conditions, is underway. Mamabolo says over 95-percent of logistical supplies for 29 May are already at hand:

# Nigeria’s recurring issue of power shortages persists as its grid has collapsed for the fifth time this year. The state-owned electricity producer, Transmission Company of Nigeria, reported a fire at one of its power stations yesterday, causing widespread power failures. While power supply was partially restored, frustrations mounted on social media. Despite a recent 230-percent tariff increase for wealthier consumers, aimed at reducing subsidies worth over 49-billion-rand, the electricity regulator defends the move as crucial for grid stability and attracting investments. Gas shortages and vandalism exacerbate the situation, triggering frequent collapses.

# Rugby: Lock JD Schickerling is the latest Stormer to make his return to Cape Town, having signed a three-year deal. The 28-year-old made his Stormers debut back in 2016 and earned 40 caps before making the move to Japan in 2021. The imposing Schickerling will add valuable second-row depth to the squad when he makes his return in July. Stormers director of rugby John Dobson says this signing is another major boost for his squad, especially given Schickerling’s pedigree and rugby roots in the region.

# And the financial indicators: The dollar trades at 19-rand-2-cents and the euro at 20-rand-22-cents. One British pound costs 23-rand-68-cents and Bitcoin trades at 62-thousand-325-dollars-29-cents. Gold sells at two-thousand-220-dollars-79-cents a fine ounce and Brent crude oil is quoted at 89-dollars-68-cents a barrel.

Stay tuned for more news………….